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Calculate cost of goods sold and ending inventory

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Question - Orange Company uses the periodic inventory system. The company's beginning inventory and inventory purchases during March 2021 were as below:

Mar 01: Beginning inventory, 175 units @ $6 per unit.

Mar 9: Inventory purchased, 205 units @ $9 per unit.

Mar 22: Inventory purchased, 195 units @ $13 per unit.

During March Orange company sold 205 units.

Calculate cost of goods sold and ending inventory for March 2021 using the First in, first out (FIFO) method only.

Reference no: EM132979393

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